DUBAI, UNITED ARAB EMIRATES - MAY 5, 2018. 

Swedish national Edward Hartung, 30, has been taking advantage of sterling weakness over the last year to build up funds in the UK, where he plans to invest in property. 
The IT expert, who has worked for Oracle in Dubai for the last three years, and previously split his time between London and Dublin, thinks the UK is still an attractive place to invest in property. "My ultimate dream is to buy somewhere in London, but that is expensive, so I have been considering student property in cities such as Southampton and Manchester, which is more affordable with generous yields.” 
Each month, Edward transfers a chunk of his salary to a bank account in the UK, using fast and low-cost fintech start-up Money Mover. "I transfer money on an ad hoc basis, taking advantage of any swings in my favour. Money Mover makes it really easy, which is a big help as I am so often on the move. When I talk to friends, none of them seem to get a better exchange rate.” 
Lately the pound has started to strengthen, which means his dollar-linked dirhams do not travel as far. “It goes a lot further when I send cash to Sweden, where the krone is really weak, I also send some money to Germany but that hasn't been much fun, given recent euro strength.” 
Sterling now stands at a crossroads, as Brexit negotiations over leaving the EU reach a critical point. 
If the UK crashed out of the EU without a deal that would be punishing for the pound, but good news for Edward, who would get more for his money. “On the other hand, if the UK strikes a deal and the pound strengthens, particularly against the euro, I might rethink my plans and buy in Europe instead.” 
However, buying a property in London remains his ultimate goal, and he is sending over as much as he can afford for now. “It isn't easy, though, it is far too easy to spend money in Dubai,” Edward adds.

(Photo by Reem Mohammed/The National)

Reporter: ALICE HAINE
Section: BZ
Dubai resident Edward Hartung has been taking advantage of sterling weakness over the last year to build up funds in the UK, where he plans to invest in property. Reem Mohammed / The National

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